Beautiful Virgin Islands

Saturday, Jul 05, 2025

Future of trade is ‘digital, green, inclusive,’ WTO chief says at WEF

Future of trade is ‘digital, green, inclusive,’ WTO chief says at WEF

Director-General of the World Trade Organization, Ngozi Okonjo-Iweala, said that the “future of trade is services, it is digital, it is green, and it should be inclusive,” while addressing the World Economic Forum.
Okonjo-Iweala argued that the challenge surrounding trade was not only slowing global growth, but the different approaches adopted by many countries had led some leaders to question the future of globalization.

She urged world leaders to rethink a new agenda for global growth, and warned against deglobalization, saying it would negatively impact the world and its emerging economies.

With several countries seeking bilateral trade agreements, the WTO has been quick to warn of the dangers of global trade fragmenting into economic blocs.

The conflict in Ukraine, COVID-19, and the fragility of the supply chain has pushed many countries to relocate manufacturing closer to consumers’ demand, Okonjo-Iweala said.

This protectionist trend had been further accelerated when many countries questioned their reliance on specific areas for key goods and services, such as European dependence on Russian energy.

This trajectory, according to Okonjo-Iweala, which prioritizes national security concerns over trade inclusion, risks favoring certain players over others, creating an unequal distribution of income and economic growth.

She said: “When we talk of friend-sharing, I don’t know who is a friend. I don’t ever hear countries in Africa mentioned.”

Belgium’s Prime Minister Alexander De Croo said coordination is crucial if the world is serious about hitting environmental targets.

He emphasized how industrial policy has become a major focus for many nations rethinking their approach to trade, and how certain industries have been overhauled due to new pressures to increase resilience and national security.

“Five years ago [industrial policy] was not a very sexy topic. Today it is top of the agenda,” he said.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
A new online platform has emerged in the United Kingdom, specifically targeting Muslim men seeking virgin brides
Trump Celebrates Independence Day with B-2 Flyover and Signs Controversial Legislation
Boris Johnson Urges Conservatives to Ignore Farage
SNP Ordered to Update Single-Sex Space Guidance Within Days
Starmer Set to Reject Calls for Wealth Taxes
Stolen Century-Old Rolls-Royce Recovered After Hotel Theft
Macron Presses Starmer to Recognise Palestinian State
Labour Delayed Palestine Action Ban Over Riot Concerns
Swinney’s Tax Comments ‘Offensive to Scots’, Say Tories
High Street Retailers to Enforce Bans on Serial Shoplifters
Music Banned by Henry VIII to Be Performed After 500 Years
Steve Coogan Says Working Class Is Being ‘Ethnically Cleansed’
Home Office Admits Uncertainty Over Visa Overstayer Numbers
JD Vance Questions Mandelson Over Reform Party’s Rising Popularity
Macron to Receive Windsor Carriage Ride in Royal Gesture
Labour Accused of ‘Hammering’ Scots During First Year in Power
BBC Head of Music Stood Down Amid Bob Vylan Controversy
Corbyn Eyes Hard-Left Challenge to Starmer’s Leadership
London Tube Trains Suspended After Major Fire Erupts Nearby
Richard Kemp: I Felt Safer in Israel Under Attack Than in the UK
Cyclist Says Police Cited Human Rights Act for Riding No-Handed
China’s Central Bank Consults European Peers on Low-Rate Strategies
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Musk Battles to Protect Tesla Amid Trump Policy Threats
Air France-KLM Acquires Majority Stake in Scandinavian Airlines
UK Educators Sound Alarm on Declining Child Literacy
Shein Fined €40 Million in France Over Misleading Discounts
Brazil’s Lula Visits Kirchner During Argentina House Arrest
Trump Scores Legislative Win as House Passes Tax Reform Bill
Keir Starmer Faces Criticism After Rocky First Year in Power
DJI Launches Heavy-Duty Coaxial Quadcopter with 80 kg Lift Capacity
U.S. Senate Approves Major Legislation Dubbed the 'Big Beautiful Bill'
Largest Healthcare Fraud Takedown in U.S. History Announced by DOJ
Poland Implements Border Checks Amid Growing Migration Tensions
Political Dispute Escalates Between Trump and Musk
Emirates Airline Expands Market Share with New $20 Million Campaign
Amazon Reaches Milestone with Deployment of One Millionth Robot
US Senate Votes to Remove AI Regulation Moratorium from Domestic Policy Bill
Yulia Putintseva Calls for Spectator Ejection at Wimbledon Over Safety Concerns
Jury Deliberations in Diddy Trial Yield Partial Verdict in Serious Criminal Charges
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
King Charles Plans Significant Role for Prince Harry in Coronation
Two Chinese Nationals Arrested for Espionage Activities Against U.S. Navy
Amazon Reaches Major Automation Milestone with Over One Million Robots
Extreme Heat Wave Sweeps Across Europe, Hitting Record Temperatures
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
Robots Compete in Football Tournament in China Amid Injuries
Trump Administration Considers Withdrawal of Funding for Hospitals Providing Gender Treatment to Minors
Texas Enacts Law Allowing Gold and Silver Transactions
×